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Visa might be the best business model ever made, I don't think it's going anywhere soon.. Extremely high barrier to entry, extremely low marginal costs, infinite scalability.

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Look at China, India and other Asian countries. Visa and MasterCard never had that much of a strong foothold there and now debit and credit cards are pretty much antiquated by wallets and QR codes.

This isn't true for India. Until last year, all the cards I'd seen in India were either Visa, Mastercard or AMEX. This year my bank tried to send me a "Rupay" card which is an Indian processor; on speaking to the bank staff, it appears that the central bank (RBI) are asking banks to promote Rupay by default to avoid transaction data from leaving the country. But it's still possible to change to a Mastercard or Visa card.

Many businesses and individuals would still prefer to have a Mastercard or Visa at this time as most international websites that sell services and goods don't accept Rupay.

Sure, there will always be a middleman, but when plastic cards go away I suspect visa etc will be pushed out.

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